Referral Agreement Template Uk

If you`re a business owner in the UK who relies on referrals, you`ll want to consider using a referral agreement template. A referral agreement template is a legal document that outlines the terms and conditions of a referral program. It`s an important tool for any business that wants to establish a formal agreement with its referrers.

Here are some key points to consider when creating a referral agreement template for your business:

Purpose: The purpose of a referral agreement is to outline the terms and conditions of your referral program. This includes the commission or incentive that will be paid to the referrer. The agreement should also outline the requirements for earning the commission, such as the minimum amount of business that must be generated or the timeframe in which the referral must be made.

Parties: The referral agreement should clearly identify the parties involved. This includes your business and the referrer. You should also include the contact information for both parties so that communication can easily take place.

Scope: The referral agreement should clearly define the scope of the referral program. This includes the products or services that are eligible for referral commissions. It should also specify any exclusions or limitations.

Commission: The commission structure is one of the most important elements of the referral agreement template. The commission should be clearly specified and agreed upon by both parties. You should also outline the payment schedule, whether it`s paid monthly, quarterly, or annually.

Term: The referral agreement should specify the length of the agreement and the terms for renewal or termination. This includes any notice requirements that must be given prior to termination.

Confidentiality: It`s important to include confidentiality clauses in the referral agreement template. This ensures that any confidential information shared between the parties remains confidential.

Governing law: The referral agreement should specify which law will govern the agreement. This is important if any disputes arise and legal action is required.

Overall, a referral agreement template is a valuable tool for any business that relies on referrals. It sets out clear expectations for both parties and helps to prevent misunderstandings or disputes. If you`re considering setting up a referral program, it`s important to consult with a legal professional to ensure that your agreement complies with all relevant laws and regulations.